Air cargo demand continued to outperform pre-COVID levels with demand up 9% over February 2019, according to February 2021 data for global air cargo markets released by International Air Transport Association (IATA).
According to IATA, February demand also showed strong month-on-month growth over January 2021 levels. Volumes have now returned to 2018 levels seen prior to the US-China trade war.
Global demand, measured in cargo tonne-kilometers (CTKs), was up 9% compared to February 2019 and +1.5% compared to January this year. All regions except for Latin America saw an improvement in air cargo demand compared to pre-COVID levels and North America and Africa were the strongest performers.
The recovery in global capacity, measured in available cargo tonne-kilometers (ACTKs), stalled owing to new capacity cuts on the passenger side as governments tightened travel restrictions due to the recent spike in COVID-19 cases. Capacity shrank 14.9% compared to February 2019.
The operating conditions remain supportive for air cargo:
Conditions in the manufacturing sector are robust despite the recent spike in COVID-19 outbreaks. The global manufacturing Purchasing Managers’ Index (PMI) was at 53.9 in February. Results above 50 indicate manufacturing growth versus the prior month. The new export orders component of the manufacturing PMI – a leading indicator of air cargo demand– picked up compared to January, said IATA.
“Air cargo demand is not just recovering from the COVID-19 crisis, it is growing,” said Willie Walsh, IATA’s Director General. “With demand at 9% above pre-crisis levels (Feb 2019), one of the main challenges for air cargo is finding sufficient capacity. This makes cargo yields a bright spot in an otherwise bleak industry situation. It also highlights the need for clarity on government plans for a safe industry restart. Understanding how passenger demand could recover will indicate how much belly capacity will be available for air cargo. Being able to efficiently plan that into air cargo operations will be a key element for overall recovery.”
Pratt & Whitney Canada (P&WC) and the state-owned airline of Angola, TAAG Angola Airlines E.P., have entered a six-year agreement…
Indonesia’s Ruang volcano erupted again on Tuesday (Apr. 30), leading to the cancellation of flights and closure of airports in…
Defense Technology Institute (DTI) Thailand has delivered two prototypes of the 105mm light howitzer CS/AH2 to the Artillery Battalion, Artillery…
Airbus has announced the launch of the Pléiades Neo Next programme, aimed at bolstering its high-resolution Earth observation satellite constellation,…
Eve Air Mobility joins Japan’s Advanced Air Mobility (AAM) Public-Private Committee, as announced by the company’s press release on Tuesday…
ACIA Aero Leasing, headquartered in Dublin, Ireland, announced the successful delivery of one of two ATR 72-500 Bulk Freighters to…
One TPS-P14ME Mobile Air Surveillance Radar System from Japan was officially handed over to the Philippines Air Force (PAF). The…
Skyllence, an international air charter broker, announced the appointment of Kestutis Abarius as Head of Sales on Monday (Apr. 29).…
Qatar Airways and the United Nations High Commissioner for Refugees (UNHCR) have reaffirmed their commitment to aiding the most vulnerable…
The Philippines Coast Guard (PCG) is set to acquire an additional five Multi-Role Response Vessels (MRRVs) from Japan. These vessels…
Korean Air is set to open a new daily route connecting Seoul Incheon with Macau starting 1 July 2024, as…
Qatar Airways Cargo announced the opening of its advanced Animal Centre and the relaunching of its Next Generation Live product…
All Nippon Airways (ANA) and Air India, India's national flag carrier, have established a commercial agreement to initiate a codeshare…
Saab has completed the delivery of another GlobalEye Airborne Early Warning and Control (AEW&C) aircraft to the United Arab Emirates…
In what seems to be a continuation of Vietnam’s Defence Minister General Phan Van Giang's visit to South Korea in…
GD Helicopter Finance (GDHF), a Dublin-based helicopter leasing and finance company, has secured a contract with Airbus Helicopters and GDAT,…
Indian Low-Cost Carrier (LCC) IndiGo has announced a firm order for 30 Airbus A350-900 aircraft in what is its first…
Racer demonstrator, developed by Airbus Helicopters as part of the European Research Clean Sky 2 initiative, has completed its inaugural…
Lockheed Martin Australia has secured an AUD$500 million contract with the Australian Department of Defence to develop the country’s future…
Artemis Aerospace has announced the addition of a hub in Singapore following the launch of two similar sites in the…
ZeroAvia announced plans to offer key components from its hydrogen-electric engines to fellow innovators in the clean aviation industry on…
Challenge Group has announced the launch of Challenge Technic's specialised A-CHECK line at its hangar facility in Hannover on Wednesday…
Korean Air, alongside Hyundai Motor Company, Korea Telecom (KT), Incheon International Airport Corporation (IIAC), and Hyundai Engineering & Construction, has…
Mayman Aerospace is set to unveil a full-scale model of its high-speed Air Utility Vehicle (AUV), Razor, during SOF Week…
TEKEVER, a provider of unmanned aerial systems (UAS) in Europe, introduced its newest drone the ARX in San Diego, U.S.…
Viasat and uAvionix have teamed up to enhance global communication services for Uncrewed Aerial Vehicles (UAVs), with uAvionix joining Viasat’s…
Korean Air and WestJet have extended their codeshare agreement to provide additional transpacific travel options for passengers on Monday (Apr.…
China Eastern Airlines has reached an agreement with Amadeus concerning international NDC distribution, marking a significant development for both parties.…
Singaporean officials have launched an Invincible-class submarine for the Republic of Singapore Navy (RSN) at thyssenKrupp Marine Systems (tKMS) shipyard…
Ten people died following a midair collision between an AW139 helicopter and a Fennec helicopter belonging to the Royal Malaysian…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.